Sumou Real Estate signs marketing, sales agreement for Areem Project

19/06/2023 Argaam
Headquarters of Sumou Real Estate Co.

Headquarters of Sumou Real Estate Co.

Sumou Real Estate Co. signed, on June 18, a marketing and sale agreement with Adeer Real Estate Co. (related party) for the Areem project, on Plot No. 8, allocated to the company in Makkah Gate residential scheme.

 

In a statement to Tadawul, the developer said the project spans an area of 88,600 square meter (sqm).

 

The duration of the agreement is from the date of signing until the completion of units’ sales.

 

Adeer will charge a commission of 1.25% of sales, including marketing costs.

 

A positive impact is expected to reflect on Sumou Real Estate’s financials after the off-plan sale license is issued and the sale and implementation begins, the statement added.

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